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Oil companies 'feel shame over prices'
perthnow ^ | 3/23/08 | pethnow

Posted on 03/23/2008 6:11:04 PM PDT by Flavius

ARROGANT oil companies realised they'd "gone too far" and allowed petrol prices to fall over the Easter long weekend, says a leading motoring group. The NRMA claims petrol prices rose between 15 and 20 cents a litre on the Thursday before the Easter long weekend, reaching an average of about $1.50 per litre.

Oil to stay below $110 a barrel: OPEC Oil to stay below $110 a barrel: OPEC Competition Policy and Consumer Affairs Minister Chris Bowen dismissed allegations that drivers were being ripped off, saying the price hikes were part of the weekly price cycle.

But motoring group NRMA disagrees, arguing that the cost at the bowser soared above the average weekly price cycle.

"We used to see the normal price cycle as being four to seven cents over the week, lately it's gone up to 10 cents but we've certainly never seen 15 to 20 cents as we saw on Thursday,'' NRMA president Alan Evans told ABC radio.

Mr Evans said the powerful oil companies reacted to the pressure they received over the rising costs and have now brought the prices down.

"I think the oil companies felt the shame and the pressure that they've got from the media for the behaviour on Thursday,'' he said.

"I think they outraged the public by the amount they increased their petrol on Thursday - you know, 15 to 20 cents right in front of people's eyes was just too much to bear.

(Excerpt) Read more at news.com.au ...


TOPICS: News/Current Events
KEYWORDS: australia; energy; gasprices; marines; oil
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1 posted on 03/23/2008 6:11:04 PM PDT by Flavius
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To: Flavius

I am no fan of government getting involved in pricing but it seems like the petroleum industry could stand to see some regulation. Let’s face it, they have us over a barrel (pun intended)


2 posted on 03/23/2008 6:13:27 PM PDT by infantrywhooah
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To: Flavius

What total BS!


3 posted on 03/23/2008 6:13:46 PM PDT by ScratInTheHat (Don't like my immigration stance? I'm dyslexic. PC keeps sounding like BS to me!)
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To: Flavius

What? Feeling shame about greed? Are you sure this is a business group talking? Greed is supposed to be one of the four food groups.


4 posted on 03/23/2008 6:13:47 PM PDT by Sirloin (snickering at hyperbole since 1998!)
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To: infantrywhooah

Crude oil is sold on the world market. Exactly how can the US government regulate prices?


5 posted on 03/23/2008 6:14:56 PM PDT by politicalwit (AKA... A Tradition Continues...Now a Hoosier Freeper)
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To: politicalwit

We only import a fraction of the oil consumed in this country.


6 posted on 03/23/2008 6:17:26 PM PDT by infantrywhooah
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To: ScratInTheHat

What total BS!

YUP!


7 posted on 03/23/2008 6:18:21 PM PDT by nmh (Intelligent people recognize Intelligent Design (God).)
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To: politicalwit

By decree.

That’s sarcasm, BTW.


8 posted on 03/23/2008 6:19:25 PM PDT by Balding_Eagle (If America falls, darkness will cover the face of the earth for a thousand years.)
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To: infantrywhooah
I am no fan of government getting involved in pricing but it seems like the petroleum industry could stand to see some regulation.,p. Got nothing to do with them. It's a traded commodity. Impossible to do, but if you want lower prices, ke it off the commodity market. Its the damn short sellers that are screwing us!
9 posted on 03/23/2008 6:20:04 PM PDT by Bommer ("He that controls the spice controls the universe!" (unfortunately that spice is Nutmeg!))
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To: infantrywhooah

The only thing more government regulation will get you is reduced supply and higher prices. This site is largely comprised of free marketeers - you may want to consider that as you log some time here.


10 posted on 03/23/2008 6:20:44 PM PDT by USMA '71
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To: infantrywhooah

“We only import a fraction of the oil consumed in this country”

And what percentage would that be?


11 posted on 03/23/2008 6:24:12 PM PDT by headstamp 2 (Been here before)
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To: Flavius

I really am not interested in Brit news....the British have made innumerable mistakes in every aspect of their doings...........no role mo9dels there.


12 posted on 03/23/2008 6:24:15 PM PDT by yldstrk (My heros have always been cowboys--Reagan and Bush)
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To: Flavius

If everyone would quit buying gas from ExxonMobile stations we could see how low we could drive the prices. If all of the Mobile stations quit pumping gas for a couple days they would be forced to drive their prices lower to “entice” people to come back to their stations.


13 posted on 03/23/2008 6:24:19 PM PDT by missnry (The truth will set you free ... and drive liberals Crazy!)
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To: Flavius

BS!
All can see that they are shameless!


14 posted on 03/23/2008 6:27:22 PM PDT by gunnyg
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To: missnry

No, because the extra business the other stations received would cause them to raise their prices.


15 posted on 03/23/2008 6:28:32 PM PDT by crusty old prospector
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To: infantrywhooah

Obama is running ads in PA telling how windfall profits on oil companies will lower the price of oil and make us not need to rely on foreign oil. Sounds like the author of this piece has the same flaw in his logic.


16 posted on 03/23/2008 6:30:32 PM PDT by Shanty Shaker
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To: infantrywhooah
Oh fractions. What: 1/4, 1/2, 2/3,?

9/10 is also a fraction.

17 posted on 03/23/2008 6:31:12 PM PDT by AFreeBird
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To: Flavius

“Oil companies feel shame over prices”

But not shame enough to lower the f*king prices!

What a load of Sh#t!


18 posted on 03/23/2008 6:33:29 PM PDT by Levante
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To: missnry

You need a course in economics. The only way to lower the price is to increase the supply which is very easy. Just drill in the USA and refine in the USA.


19 posted on 03/23/2008 6:35:46 PM PDT by Sunnyflorida (Drill in the Gulf of Mexico/Anwar & we can join OPEC!!! || Write in Thomas Sowell for President.)
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To: Levante

Why should they lower prices? What sense would that make. They would be nuts. Their stock price would crater. The oil services industry would tank. The only short term solution is more drilling and more refining. No other option. Well one...a full on recession.


20 posted on 03/23/2008 6:39:42 PM PDT by Sunnyflorida (Drill in the Gulf of Mexico/Anwar & we can join OPEC!!! || Write in Thomas Sowell for President.)
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